Top 6 Stocks to Buy for August

This month's picks based on proven performance, above-average dividend yields

Top Stock to Buy #1 – Baker Hughes (BHI)

Large-cap oil well services company Baker Hughes (NYSE:BHI) rose to a new high in late July, following better-than-expected quarterly results. A reversal from under its 50-day moving average and a breakaway gap through its 200-day moving average are strong technical signals that target the stock at the mid-$50s.

Other supporting technical signals include a close above its bearish resistance line (red dotted line) and a strong buy signal from the MACD indicator.